Member Info for Muck165

Some “light” reading here for anyone interested, published in June. Some highlights..

“ In the United States, sepsis accounts for over 270,000 deaths and $38 billion in health care costs each year”

“ These results highlight the need for rapid tests for sepsis, which could greatly aid ED sepsis care”

Loop are on to something I think, and we wi no doubt be making it

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10239543/#:~:text=A%20rapid%20sepsis%20test%20is,3%20days%20of%20hospital%20admission.

Agree Greend100 - our current burn rate is c£170k per month, and we can expect that to fall given what we are hearing about business/revenue expectations. £3.2m in the kitty will last a long while yet.

No indication of that, nor do I see the need. We had £3.2m cash at the end of June down from £3.7m at the end of March and £4.4m at the end of December. So our burn rate is reducing as revenue grows and costs are managed. If I recollect, the Board has said it has enough cash, even in stressed scenarios, to see through to the end of this year, but I haven't had time to check.

I think there will be some developments concerning Salistick over the next few weeks.

Addeira is gearing up to launch it in Scandanavia this Autumn, and its co founder was educating its sales force last week about "exciting new product launches". The Salignostics deputy CEO liked a post he put out about it.

Salignostics are reviewing and updating their general webstite https://www.salignostics.com/. So what are they going to add?

There is at least one other new site, which appears to be dedictated to Salistick - www.salistick.co.il. We had a sneak peak before they stuck it behind a password, but the general thread was a brand redirection towards "Meet Sally". Perhaps this will be mirrored in the updates being done now to Salignostics.com.

Another, Salistick.com, is showing as "under construction".

Add to that Salignostics appointment last month of a CBDO, right out of an extremely senior position in the Israeli Health Ministry.

Might all be bunkum but my spidey sense is tingling a little.

IG - screwed insofar as the govt sent out a "call to arms" to the UK diagnostic industry to come up with a Covid Anitbody Test; ABDX responded by dropping everything to concentrate on it, hiring staff, incurring cost only to have agreed got contracts pulled from under it and a GLP action against the govt alleging croynism which delayed payment of what we were owed and resulted in our only getting part of that back. ABDX had to significanty reduce its cost base by making sweeping redundancies and re-position its entire business model to a CDMO proposition. That has worked, as far as I can tell, extremely well, and the tanker is now turning towards breakeven and operational profitability.

Salistick is only one iron in the fire, even though it what people here concentrate on, but there equally exciting things in the pipe particularly I think with Loop DX sepsis test and the Upfront DX stroke test which could help save billions in healthcare costs globally.

Agree, it not entirely clear HD2U.

But I can’t see how you can “continue” to provide manufacturing services going forward unless you’ve already been providing those services.

The earliest article I can find about Salignostics and the FDA is from November 2021, which confirmed they’d made a 510k Q submission - that’s basically a first stab at the FDA to say look, we’ve got this product, and we want to ask you a few questions about what you’ll need from us when we make the full approval submission.

Now, I don’t know how long these things take but I do know they take longer if there is no product on the market against which you can demonstrate your products equivalence. That could easily be the case with a worlds first saliva based preg test, so I suspect the testing requirements have been more onerous.

But even so, the process did start 21 months ago. It’s interesting then that last month Salignostics made this appointment. To my mind he is a heavyweight guy who’s given up a secure successful high level career to go all in with a small pre revenue startup, which is brave unless you are confident of its future. Likewise, it will be a sizeable cost to Salignostics, so brave again for them unless they have confidence.

I just wonder if the appointment May somehow be linked with expected FDA approval.

https://www.calcalistech.com/ctechnews/article/bjntzt5kn

Yup

This from the ABDX website too

"All sites are connected to international logistic hubs and we have a dedicated logistics team for managing shipments to the USA and Canada."

According to reports, Salignostics began the process of getting FCA approval for Salistick some time ago, and I suspect we are helping in that process. No idea how long that process will take.

Worth noting, though, that Abingdon Health facilities have an establishment registration with the FDA, which means that we could make the product for use in the states, once product approval is given of course.

Massive potential market there!

From the RNS its worth noting as well that ABDX are continuing to "explore distribution opportunities for Salistick™ both in the UK and internationally" and in their Linkedin post this morning they refer to the Tesco's launch as "the next stage in bringing Salistick (the World's First Saliva based Pregnancy Test) to the UK market".

So there could be discussions with other major retailers already bubbling away in the background.

I suppose another thing is that we’re building distribution relationships with major players, which could help our existing product mix hit the market and attract more CDMO clients. “Look, not only can we develop and make it, but we can get out to major retailers”.

Not a bad message

Should be an interesting open. We have an opening bid already on L2 of 10p…

Yep - slowly but surely ABDX are trying to drive product awareness and this is a great step forward. I’m certain that shortly we will also see a dedicated Salistick website. Good news!

Loop have re-jigged their website, and it now includes a more detailed timeline towards commercialisation (just scroll down through the link)

https://loopdx.com/

In summary they're looking at initial UK sales during Q1 2024 with Europe to follow later in 2024. That of course will depend on their getting UKCA and CE marks.

Big potential market here...

True, but to realise that value don't we need to monetise the diamonds?

Its nice to see we're hiring to meet demand - would just be great if the company could communicate a little more and give detail about that demand.

None

Oh, and Yates re-posted it with this comment

“ We are hiring into our #researchanddevelopment team to meet significant demand for our #CRO and #CDMO services. ”

Significant demand…..

ABDX posted this on LinkedIn a few ours ago

“ We are hiring!!!

Due to increased demand for our lateral flow CRO/CDMO services we are able to offer fantastic opportunities for junior and senior R&D Scientists for both our York and Doncaster sites. To find out more or register your interest in these roles please contact hr@abingdonhealth.com with a copy of your CV. We very much look forward to hearing from you! ”

Doesn’t sound like we’re struggling to find work.

Well I’ll start with a positive one ASI - could it be they’ve deliberately omitted it because they’ve now got the diamonds, rather than “preparing for their release”?

Most likely answer of course is the omission is just an oversight!